Michael McGrath (Cork South Central, Fianna Fail) | Oireachtas source

I welcome the Minister for Finance and Public Expenditure, Deputy Donohoe, and his officials and thank him for his opening statement.

On Brexit, I acknowledge the publication last week of the forecasts of what a disorderly Brexit might look like for the Irish economy. Does the Minister accept that in reality the impact may be far worse and more adverse for Ireland than he has set out? The Minister acknowledged that the figures may be conservative. One thing that is very difficult to quantify in any economic model is the whole issue of sentiment and confidence. In a disorderly Brexit scenario, is it the case that there is a likelihood of investment decisions being stalled and confidence being damaged? The Minister acknowledged that there could be regional variations. Areas that are heavily dependent on agrifood and indigenous manufacturing, for example, are likely to be far more adversely affected than Dublin. Does the Minister accept that the impact of a disorderly scenario could be worse and perhaps significantly worse than the economic model has predicted?